Permabear to English Translation Guide

BLS: A secret society of mathematicians and statistical wonks conspiring to falsify economic data, formerly known as the the sect of Opus Dei; See also Birth Death Adjustment.

Bernanke, Ben: Beelzebub

Bonds: An asset class that will eventually be worthless paper as its value is inflated away, but in the meantime, are a good alternative to equities.

Bubble: A catchall phrase used to describe any market not in freefall.

China: The centrally planned communist economy that is the model for Free Market Economies in the West. alt. An idealized form of Capitalism;

Death Cross: The most reliable and certain technical formation known to man. See alsoGolden Cross: An old wives’ tale, not to paid attention to or taken seriously at all.

Depression: The current state of economic affairs; See also Pornography.

European Union (EU): A soon to be dissolved association of Socialist states, whose sole purpose is to mislead investors into believing the United States is (comparatively) fiscally responsible. See alsoEuroFASB: A criminal legal enterprise of accountants whose members help banks hide massive losses;

Fiat Currency: The root of all evil

FOMC: Fertilizer for the root of all evil

Gold: A shiny yellow metal used primarily as an excuse for missing a generational rally in equities.

Google: See Apple

Greece: A nation of tax cheats that will lead to the dissolution of the EU;

Hindenburg Omen: A common pick up line at permabear cocktail parties, good for for attracting sexual partners but of little use for anything else.Vernacular: “Did you see another Hindenburg Omen signal was given today?”

Hyper-Inflation: The eventual fate of all humanity due to the existence of central banks.

Inflation: The precursor condition to Hyper-Inflation.

Japan: A large manufacturing island in the Pacific, whose decades-long recession is the inevitable model for the United States

Money Supply: ?, an imaginary number.

New Normal: A combination of contracting credit availability, stubborn unemployment and US consumer de-leveraging; See also 1930s, 1950s, 1970s (aka Old Normal).

Overbought: The normal state of equity markets;

Oversold: A theoretical market condition last seen in 1982.

P&L: We don’t talk about that.

POMO: An acronym used by rookie traders in failed attempts to explain the “mysterious” impact of massive liquidity on equities.

QE2: A code word or shorthand for the event that has been prophesied to bring about the End of the World. Interchangeable with “Apocalypse” as Perma-bears regard both its coming and its destructive power as a quasi-religious inevitability. See alsoPOMO

Recession: See Depression

Risk On: Any Bull market

Rosenberg, David: A minor deity amongst the Perma-bear faithful. The very mention of his name causes a reverential hush to fall over the gathered masses as they hungrily devour his latest proclamations of death and dismemberment. See also Roubini, Faber, Rogers, Cassandra, et. al.

Stress Test: Hoax or Conspiracy

Subprime: The state of all credit in the US

Tony Robbins: The newest economic sage to warn of the coming economic apocalypse, most recently during August 2010; See alsoJohn Tudor Jones.

Unemployment: An irreversible condition, symptomatic of declining empires. Hence the reason no one in Great Britain ever found a job again after the 1830?s.